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  • #21,481
  • Sep 11, 2023 9:04pm Sep 11, 2023 9:04pm
Quoting navk
{quote} In reality, that is not happening. THey go and allow regulated forex brokers.? And i read that CFTC has nothing to with forex market. And if so, why this action ? Is it because, all firms are open to trade commodities ?
You're correct. They regulate the futures market. Other than protecting the interest of the futures market, they truly do not have any business in the forex market. However, due to US government over reach, they feel they can prevent any forex broker, even though regulated in another jurisdiction from accepting US citizens. Why or how they feel they have this power when they are the FUTURES market regulator is beyond my comprehension, but here in the US, we just bend over and take it......I think everyone has forgotten the fact that the government works for us and in today's world we live the exact opposite. These are paid public servants who get rich on their own agendas at the expense of the citizens.
You should never get rich as a government employee, but look at the net worth of some of these folks and compare it to when they started. Where did all the money come from? Good investments?
  • #21,482
  • Sep 11, 2023 9:10pm Sep 11, 2023 9:10pm
Quoting pipmaster77
{quote} You're correct. They regulate the futures market. Other than protecting the interest of the futures market, they truly do not have any business in the forex market. However, due to US government over reach, they feel they can prevent any forex broker, even though regulated in another jurisdiction from accepting US citizens. Why or how they feel they have this power when they are the FUTURES market regulator is beyond my comprehension, but here in the US, we just bend over and take it......I think everyone has forgotten the fact that the...
In legal terms, if MFF and other firms stop offering commodies, will that be fine for CFTC ?

Or they will overreach to an extent that they are the benificiaries ?

If that is being the case, Lawyers are just tools... the CEO's will be better equiped to handle.

All of CEO's are rich and they can pull it off for them as well as for us.

Intraday only.
  • #21,483
  • Sep 11, 2023 9:35pm Sep 11, 2023 9:35pm
Quoting forexbali
Is MFF the unique firm down, or some other in the our top 5 suspended registrations of new clients? FTMO and TFF unique props to stay away from US/CA/UK?
Hi forexbali,
Who would you recommend US resident try if not FTMO or Tff? Thank you for your views & comments.
  • #21,484
  • Edited 12:48am Sep 12, 2023 12:35am | Edited 12:48am
Regarding MFF overall the biggest issue is that they weren't honest upfront about how it works to prop firm newbies as the rest of the industry, and they became the largest.

Giving impression they had best interest of the trader as if it was a real prop firm, as if they wanted newbies to succeed and thus that they would succeed themselves as prop firm which was a lie. Its about having some principles here and morals in the world even if it may not be much in the world atm of that. We can say they can only blame themselves, those who get tricked into the lies of the marketing. Its personally not a world I want to endorse. Even if the world is full of that why would we want more of it, only destroying even more for coming generations with less morals we allow into the world.

Its also some very basic economics here going on just as when they went ham on the poker industry. The countries want the citizens cash to flow within their own countries not for them to be exported to some hipster kid to buy plastic lambos to play with. The moment something becomes too big they will always crack down on it to protect itself. I'm guessing this isn't even just about US as it might seem like as if they are the only ones involved on the surface here.
The world is very globalized now, and more or less all countries work in unison in reality if something in the world becomes disruptive especially in economics.

Its as if most people live in their own bubbles thinking economics in world just randomly oils itself by chance... Then people see some cool stuff easy to earn opportunity and thinks its odd if the system they live in becomes reactive if a large number of its citizens send cash outside its borders, meaning newbies of course. Makes 0% sense to even be surprised MFF is gone forever now if one looked into how the world works a small part. So considering how big MFF became and it may seem as if its US regulatory behind it all. I doubt it. Since so many of its users seemed to be from Asia which in first place already got a huge difference in currency with US dollar value.

I just think theres more going on here than what we are allowed to know from the little info we get online.
  • #21,485
  • Sep 12, 2023 1:24am Sep 12, 2023 1:24am
Dear Traders
Please read the following information carefully.
Due to the MFF legal case, DEEL has temporarily paused its cooperation with all proprietary trading firms.
Consequently, our DEEL payouts are currently on hold. We apologize for any delay you may experience.

Here are the steps we are taking to address this situation:
- We have ensured that our Crypto withdrawal process is flawless.
- We are gathering all the documents required by DEEL to demonstrate our responsible business practices in the hopes of having the suspension lifted.
- We are also working on an alternative withdrawal solution.
What is the quickest way to receive your profit now?

The fastest way to receive your payout at the moment is through the Crypto withdrawal method.
Alternatively, we will promptly inform you when DEEL or any alternative solution becomes available.
Note: This is solely a DEEL decision that applies to the whole industry. Our business processes are stable and your accounts are safe!
If you encounter difficulties requesting a payout via Crypto, or if you have a pending Deel payment, please don't hesitate to contact us at support finotivefunding

Thank you for your understanding.
=

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  • #21,486
  • Sep 12, 2023 1:45am Sep 12, 2023 1:45am
Quoting sampat
{quote} Exactly those who are complaining about MyFF (being unethical or manipulating prices) especially who are residing in North america are sore loosers or they haven't traded at all. As I said couple times regulated brokers have much worst conditions and executions plus huge spread as compared to MyFF. So whoever complains about MyFF should atleast open accounts with Forex.com or Oanda and show results. MyFF and prop industry is kind of replacement of forex brokers for US and Canadian traders and they are taking away that option ...
one of the big problems is the anti gambling lobby which runs on FF a scare tactics and already to try discredit any good trader , they are a paid to cause has much havoc and lobby the government bodies to stop forex THATS A FACT
people leave, but this thread will go on for ever
  • #21,487
  • Sep 12, 2023 1:52am Sep 12, 2023 1:52am
Quoting MwlRCT
Dear Traders Please read the following information carefully. Due to the MFF legal case, DEEL has temporarily paused its cooperation with all proprietary trading firms. Consequently, our DEEL payouts are currently on hold. We apologize for any delay you may experience. Here are the steps we are taking to address this situation: - We have ensured that our Crypto withdrawal process is flawless. - We are gathering all the documents required by DEEL to demonstrate our responsible business practices in the hopes of having the suspension lifted. - We...
Well thats just not factual. They have paused because the CFTC has dug into Deels business model and found all these prop firms in it.
  • #21,488
  • Sep 12, 2023 1:54am Sep 12, 2023 1:54am
Also "pay off judges", what are you even thinking. This is the US of A, you don't pay off federal judges - especially one that is appointed by Joe Biden and has goals of higher power.
  • #21,489
  • Sep 12, 2023 2:02am Sep 12, 2023 2:02am
Quoting Takisd
Also "pay off judges", what are you even thinking. This is the US of A, you don't pay off federal judges - especially one that is appointed by Joe Biden and has goals of higher power.
careful now, not all can read Sarcasm
  • #21,490
  • Sep 12, 2023 2:26am Sep 12, 2023 2:26am
Quoting 1odi
{quote} careful now, not all can read Sarcasm
It was a bit of both to be fair.

Regardless, its tiring now as no updates other than dates pushed out. The dates being pushed out = fight.

Whatever the end result is, the prop industry should probably take a moment to support MFF in the fight because if they lose heavy handedly say goodbye to retail prop.
  • #21,491
  • Sep 12, 2023 2:36am Sep 12, 2023 2:36am
Quoting navk
{quote} MFF appointed Lawyers are expensive I believe. A wise businessman will not spend un necessarily on Lawyers for loosing cause. If not worth fighnting, MFF would be moving by now to open HO offshore. What do you think ? I am just logically thinking.
If the owner of MFF go to jail...If he have an interdiction to do this business anymore. He must to go to court...it's the only chance for him.
  • #21,492
  • Sep 12, 2023 2:46am Sep 12, 2023 2:46am
Quoting Takisd
{quote} It was a bit of both to be fair. Regardless, its tiring now as no updates other than dates pushed out. The dates being pushed out = fight. Whatever the end result is, the prop industry should probably take a moment to support MFF in the fight because if they lose heavy handedly say goodbye to retail prop.
I doubt that will be the case, as long there s demand they will find a way, maybe offshore, maybe unde the guize of training/gaming etc...who knows.
Furthermore, imo the Bidenomics is just the stepping stone for the uphill battle that s to come for the americans, they lost their grip on power, and that s gonna have trade, commerce and buying power ramifications in the near future. They act like inflation isn t even there, like dedollarisation isn t a concern, that all is well in the land of plenty. Most of the Agendas they re trying to push won t fly well with most of the rest of the world. Time will tell i guess.
If i was a position trader i wouldn t buy the Dollar long term.
  • #21,493
  • Sep 12, 2023 3:12am Sep 12, 2023 3:12am
Quoting Tim_isoara
{quote} If the owner of MFF go to jail...If he have an interdiction to do this business anymore. He must to go to court...it's the only chance for him.

situation is very confusing to me. there are 2 outcome

1. mff will get the permission to run
2. they have to shut.

problem is if they get the permission this industry will get very wrong message bcz after doing this kind of cheating with the client and get permission that will give them a license to do anything with trading environment( though they used all the dirty tricks so far) and other prop also will apply that.

and if they had to close then again it will create some panic on other firm and trader as well.

both actually a problem for prop traders
  • #21,494
  • Sep 12, 2023 3:15am Sep 12, 2023 3:15am
Why didn't MFF set up overseas? Especially the payment part. I remember long ago their whole operation was run in a small house in Ontario. Coz I remember doing a review of them, checked the Google Maps and saw the house. The whole operation, the computers with trader's funds etc was in that house. I remember asking for a discount code from them for the review and they told me a few things I had to remove from my review. But they still wont give a discount code.
Now a lot of prop firms are trying to distance themselves from MFF by changing some of the rules. They will probably get rid of the word "demo account" and use something else.
  • #21,495
  • Sep 12, 2023 3:22am Sep 12, 2023 3:22am
Quoting inversio
{quote} situation is very confusing to me. there are 2 outcome 1. mff will get the permission to run 2. they have to shut. problem is if they get the permission this industry will get very wrong message bcz after doing this kind of cheating with the client and get permission that will give them a license to do anything with trading environment( though they used all the dirty tricks so far) and other prop also will apply that. and if they had to close then again it will create some panic on other firm and trader as well. both actually a problem for...
Let s not bullsh+t here pls...Most of the traders that failed with MFF weren t failing cos of slippage or marked up spreads (unless obvious ripoff during LO or NY sesssion, not NEWS)
How come some manage to pull off some pretty nice gains while others struggled to even pass the evaluation? Most of these so called _Shady practices_ are employed by most REGULATED brokers... The grass in the neighbours backyard is always greener, or atleast it seems that way. Ofc who can t trade is glad that something like this is happening, why should others manage to do well in life while they are stuck? that s the whole point imo of the divided opinions u see in here.
I highly doubt that people who can actually trade with props or in their own accounts will come here and start pointing fingers or blame the universe
  • #21,496
  • Sep 12, 2023 3:36am Sep 12, 2023 3:36am
Quoting 1odi
{quote} Let s not bullsh+t here pls...Most of the traders that failed with MFF weren t failing cos of slippage or marked up spreads (unless obvious ripoff during LO or NY sesssion, not NEWS) How come some manage to pull off some pretty nice gains while others struggled to even pass the evaluation? Most of these so called _Shady practices_ are employed by most REGULATED brokers... The grass in the neighbours backyard is always greener, or atleast it seems that way. Ofc who can t trade is glad that something like this is happening, why should others...
People who are shit traders generally try to find whatever excuse to make them not responsbile for their losses.

The slippage we are talking about is 0.1-0.5 pips as shown in the evidence of emails. If 0.5 pips made you lose your account at a prop firm, you're doing it wrong. Especially since that 0.5 was attached to huge lots.

I get slipped on 1 lots by 0.5 or more at TFT on thinkmarkets. Thinkmarkets has ASIC and FCA regulation.

People really are failing to see the bigger picture but thats because they are hanging onto the blame that the reason they lost was not because they are crappy traders. Hell, I took a lot of money from many prop firms and I am a crappy trader. But I don't go around screaming scam at every prop firm I lose my account at even when their conditions are absolutely awful.

As someone mentioned here, the US alternatives, Oanda and Forex. com (gain capital) are WAYYYYY worse conditions than any of the prop firms. Oanda freezes during news almost every time.
  • #21,497
  • Sep 12, 2023 4:05am Sep 12, 2023 4:05am
Quoting acetrader
{quote} Hi forexbali, Who would you recommend US resident try if not FTMO or TFF? Thank you for your views & comments.
https://docs.google.com/spreadsheets...it?usp=sharing

this is the list of the best prop in this forum we accept as the best, if we eliminate the US and CA for the risks we know, are left only UK and FTMO/TFF in Europe.

Maybe FCA can act soon in UK, so I think the less riskly and will win from this event, at least now, will be a book of sign ups to FTMO and TFF

I ask also in the forum if there is some new prop, approved by veterans in this forum, that I should look at because even them need to diversify after the loss of MFF.
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in holiday till end of November
  • #21,498
  • Sep 12, 2023 4:24am Sep 12, 2023 4:24am
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  • #21,499
  • Sep 12, 2023 4:24am Sep 12, 2023 4:24am
Quoting 1odi
{quote} Let s not bullsh+t here pls...Most of the traders that failed with MFF weren t failing cos of slippage or marked up spreads (unless obvious ripoff during LO or NY sesssion, not NEWS) How come some manage to pull off some pretty nice gains while others struggled to even pass the evaluation? Most of these so called _Shady practices_ are employed by most REGULATED brokers... The grass in the neighbours backyard is always greener, or atleast it seems that way. Ofc who can t trade is glad that something like this is happening, why should others...

at 1st read previous posts of many where they post many cases jow they destroyed profitable accounts as well not only use dirty tricks on challenges. then come up with ur shitty knowledge
  • #21,500
  • Sep 12, 2023 4:25am Sep 12, 2023 4:25am
Quoting forexbali
{quote} https://docs.google.com/spreadsheets...it?usp=sharing this is the list of the best prop in this forum we accept as the best, if we eliminate the US and CA for the risks we know, are left only UK and FTMO/TFF in Europe. Maybe FCA can act soon in UK, so I think the less riskly and will win from this event, at least now, will be a book of sign ups to FTMO and TFF I ask also in the forum if there is some new prop, approved by veterans in this forum, that I should look at because even...
Tomorrow we don't know but today FXIFY should definitely be in that list. Plenty of (quick) payouts as a proof.
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